UK Tax Strategy
Our UK tax strategy is guided by our global commitment to act responsibly and our internal financial risk management process.
Risk Management and Governance
It is our policy to comply with all applicable UK tax legislation, regulations and reporting requirements. We manage our UK tax affairs through our established internal governance framework. We ensure that experienced and senior personnel are involved in identifying, assessing and managing all UK tax risks so that they are accounted for appropriately. Day-to-day management of UK tax affairs is led by our International Tax Manager who reports through the global tax team. The global tax team reports to a financial risk management committee, which is a committee of the global Risk Council on a periodic basis.
UK Tax Planning and Tax Risk
In the context of Anadarko’s global business, the UK business is relatively small and the taxable profit arising to the UK branches and entity is commensurate with Anadarko’s activities undertaken in the UK. For the UK branches, profits are attributed in accordance to the guidance issued by the Organization for Economic Co-operation and Development.
In accordance with our core values and internal financial risk management approach, we do not engage in artificial or aggressive UK tax planning and we adopt a low risk approach when considering our UK tax affairs.
Working with HM Revenue & Customs (HMRC)
As we have been compliant in paying and reporting UK taxes and do not have complex tax issues in the UK, we do not generally have extensive interaction with HMRC. We are committed to a collaborative and constructive relationship with them and, when we do liaise with HMRC, it is on a transparent basis.
This strategy applies to:
- Anadarko UK Corporate Limited; and
- the UK branch offices of:
- Anadarko Algeria Company, LLC;
- Anadarko International O&G Company; and
- Anadarko Tunisia BEKS Company.
This information above applies in relation to the UK tax affairs of each of the above-stated entities. Each entity regards the publication of the statements above as compliant with their duties under paragraph 22(2) of Schedule 19 to the Finance Act 2016.